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re: Payoff house or keep money invested?
Posted on 2/19/24 at 8:48 am to SlidellCajun
Posted on 2/19/24 at 8:48 am to SlidellCajun
quote:
How is cash flow? Would a 15 year work for you? Would you really invest the amounts currently used to pay mortgage? Do you have wife? Any kids?
Cash flow is fine we usually have an extra 500-1k per month to invest in taxable brokerage after 401k, ira, and hsa contributions (the p&i portion of our note is $900/month). We have the discipline to invest extra if we had no mortgage as we are doing it now. Yes I have wife and kids
This post was edited on 2/19/24 at 8:52 am
Posted on 2/20/24 at 10:44 am to Redstickbaw
Cash flow is fine we usually have an extra 500-1k per month to invest in taxable brokerage after 401k, ira, and hsa contributions (the p&i portion of our note is $900/month). We have the discipline to invest extra if we had no mortgage as we are doing it now. Yes I have wife and kids
______________
Cudos to you on the discipline to spend less than you make! Knowing this about you makes me think you will be fine regardless the direction you go on this decision.
I would say this is the biggest problem that I see with the majority of friends and family. Most spend too much money and have little to invest. I don't remember who taught me this, but I used the "pay yourself first" strategy for years. I saved/invested some money before non-critical expenditures. The majority decide to buy things every month and see if they have money left to invest. Doesn't work too well. Of course, many low income folks don't have this luxury but those folks are probably not reading this.
Anyways, be proud of yourself in this regard!
______________
Cudos to you on the discipline to spend less than you make! Knowing this about you makes me think you will be fine regardless the direction you go on this decision.
I would say this is the biggest problem that I see with the majority of friends and family. Most spend too much money and have little to invest. I don't remember who taught me this, but I used the "pay yourself first" strategy for years. I saved/invested some money before non-critical expenditures. The majority decide to buy things every month and see if they have money left to invest. Doesn't work too well. Of course, many low income folks don't have this luxury but those folks are probably not reading this.
Anyways, be proud of yourself in this regard!
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